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Ames to apply for USDA loan to fund zero‑interest home efficiency program
Summary
Council authorized staff to submit a USDA Rural Energy Savings Program application for up to $15 million to seed a revolving utility‑backed retrofit loan program; staff will return if USDA makes a conditional award before accepting funds.
The Ames City Council authorized staff to submit an application to the U.S. Department of Agriculture for the Rural Energy Savings Program and to establish a city energy‑upgrade program if the award is offered. Staff said the program — if funded — would provide up to $15 million at 0% interest from USDA and operate as a revolving fund to finance home energy upgrades, with customer repayment added as a fixed charge on the utility bill and terms capped by useful life (maximum 15 years).
Nut graf: Council approved staff’s request to apply for the USDA loan; staff will accept the funds only if the city receives a conditional commitment and…
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